Nigerian Economic Summit Group

The Nigerian Economic Summit Group (NESG) is a private sector-led think-tank and policy advocacy group based in Nigeria. The NESG promotes sustainable growth and the development of the Nigerian economy.[1][2] It is a non profit, non-partisan and apolitical organization.[3] It was founded in 1994 and was incorporated as a non-profit in 1996.[4]

Nigerian Economic Summit Group
FounderChief Ernest Shonekan GCFR
TypeNon-profit, Non-partisan think tank organization
Location
  • No 6, Oba Elegushi Street, Off Oba Oyekan Avenue, Ikoyi, Lagos
Key people
'Laoye Jaiyeola, Asue Ighodalo

The objectives of the NESG include building a first-class research institution to help support stakeholders in the execution of policies, articulate programs and strategies in response to any emerging trends in national and world economy and having a clear economic action agenda.[5]

History

At the First Summit on February 1993, national leaders explored 1992-2020 global scenarios and defined the principles for building a competitive economy in Nigeria, across what the delegates called 'New Frontiers'.[6] This consisted of Education, Stabilization, Privatisation, Deregulation, Infrastructurisation, and Democratisation. After days of dialogue and deliberations, the Federal Government at NES #1 adopted the underlying economic philosophy that would be the premise of 21st Century Nigeria.[7]

Over successive Economic Summits, this economic philosophy formed the basis of reform proposals culminating in several National Development Agendas. By NES#3 (1996), the National Stakeholder Consensus was that there was a need for a National Vision. This Summit proposed a National Vision Statement for Nigeria by 2025: “Nigeria will be a well ordered, well-governed, just and prosperous nation, united in a sustained endeavor”. It also proposed a 'Change Program' from 1996 to 2010, laying the foundation for the 'Vision 2010' agenda.[8] Following the extensive recommendations of the NES#3, Nigeria's 'Vision 2010' Committee, consisting of 240 members who were primarily from the NESG, submitted the 'Vision 2010' report; hence NES#4 was dedicated to its implementation.[9]

By 2001, Nigeria had transformed into a modern 21st-Century African Democracy and with a growth rate of 10%. World Bank Reports noted Nigeria in the 'MINT' nations with the economic potential to join the 'BRICS' nations, as well as the top league of 20 most prosperous nations in the world. The need for a more robust and ambitious agenda was recommended. This led to the articulation of the 'National Economic Empowerment Development Strategy (NEEDS)' and the corresponding 'State Economic Empowerment Development Strategies (SEEDS)' in NES#10 and its subsequent implementation in NES#11 in 2005. With the NEEDS-SEEDS synergies in place, the National Stakeholders noted the lack of clarity in terms of Nigeria's Vision on a Sector-by-Sector basis, and in cognizance of the global narratives of Nigeria joining the league of 20, in the middle of successful on-going reforms across sectors like Telecommunications, Transportation, Banking and Finance and Pensions. This led to the 2007 Summit Agenda Theme: 'Nigeria: Positioning for the Top 20 League', which was accentuated by the articulation of the 'Vision 20:2020'.  Nigeria's 'Vision 20:2020' was, therefore, an NES-inspired national effort aimed at growing and developing Nigeria, Africa's most populous nation, and bringing her to the league of the world's 20 leading economies by the year 2020.

The Nigerian 'Vision 20:2020' set a national agenda with ambitious targets and objectives to achieve rapid economic growth and to be one of the highest-ranking 20 economies in GDP size.[10] An analysis at how Vision 20:2020 has fared over the past ten years of its adoption and implementation shows very poor performance. Since 2009, Nigeria has had two administrations with their own individual socioeconomic development plans, which ‘in principle’ coincide with the terms of Vision 20:2020. The latest of these plans is the 'Economic Recovery and Growth Plan (ERGP)' 2017–2020; a plan aimed at much-needed economic recovery in the short-term that set a pathway for sustained and inclusive economic growth.

Nigerian Economic Summit

The Nigerian Economic Summit (NES) is the flagship event of the NESG and it is organized in collaboration with the national planning commission (NPC). The Nigerian Economic Summit has consistently focused on job creation, small and medium-sized enterprises (SME) growth, competitiveness, dismantling the pillars of corruption, encouraging sustainable growth and development and aligning home-grown long-term development agenda with the UN sustainable development goals. For 25 years, the Nigerian Economic Summit Group has accomplished a great deal in terms of research outputs and the implementation of programs, including seminars, conferences, and workshops.[11]

Start-up Pitching Event

The Start-ups Pitching Event was introduced by the Nigerian Economic Summit Group as part of its flagship event, the Nigerian Economic Summit (NES) in 2017. It serves as a platform for entrepreneurs to grow and fund their businesses. The start-up Pitching event comes wit opportunities for mentorship and professional advisory services. The Start-Ups Pitching Event also was held in 2019 in the 25th anniversary Summit with the winners receiving grants.

Innovation Workshop

The NES 26 Innovation Workshop served as a successor to the Start-up Pitching Event.[12]

Summit Themes
Years Themes
1999 Rebuilding the Nigerian Economy and Enhancing Productivity
2000 Breakthrough Economic Growth: An Action Plan
2001 Nigeria's Economic Priorities: How Do We Deliver?
2002 Nigeria: Putting the Economy First
2003 Nigeria: Partnering for Growth and Transformation
2004
2005 Building Momentum for Economic Transformation and Growth
2006 Sustaining Reforms and Unlocking Nigeria's Potential
2007 Nigeria: Positioning for the Top 20 League
2008 The Race to 2020: The Realities. The Possibilities
2009 10 Years of Nigeria's Economic Progress: Bridging the Implementation Gaps
2010 Nigeria at 50: The Challenge of Visionary Leadership and Good Governance
2011 Attracting Foreign Direct Investment through Global Partnerships
2012 Deregulation, Cost of Governance and Nigeria's Economic Prospects
2013 Growing Agriculture as a Business to Diversify Nigeria's Economy
2014 Transforming Education Through Partnerships for Global Competitiveness
2015 Tough Choices: Achieving Competitiveness, Inclusive Growth and Sustainability
2016 Made-In-Nigeria
2017 Opportunities, Productivity, and Employment: Actualizing the Economic Recovery and Growth Plan
2018 Poverty to Prosperity: Making Governance and Institutions Work
2019 Nigerian 2050: Shifting Gears
2020 Building Partnerships for Resilience

Policy Commissions

The 13 policy commissions are as follows:

  1. Energy Policy commission
  2. Science and Innovation policy commission
  3. Manufacturing and solid minerals development policy commission
  4. Agriculture and food security policy commission
  5. Infrastructure and logistics policy commission
  6. Education policy commission
  7. Governance and institutions policy commission
  8. Trade investment and competitiveness policy commission
  9. Finance, financial inclusion and financial markets policy commission
  10. Sustainability policy commission
  11. Tourism, Hospitality, Entertainment, Creative Industries and Sport as a Business
  12. Health policy commission
  13. Digital Economy policy commission[13]

The structure of the Policy Commissions of the NESG is made up of sub-groups which are otherwise known as Thematic groups. There are 44 thematic groups that make up the policy commission structure of the NESG.

Partnerships

NESG/NGF Economic Roundtable (NNER)

The NESG/NGF Economic Roundtable (NNER) roundtable is a partnership between the Nigerian Governors’ Forum and the NESG. The roundtable works with sub-nationals to promote economic cooperation in clusters capable of taking advantage of economic corridors to create jobs in logistics, agriculture, storage and others.[14]

Nigeria Triple Helix Roundtable (NTHR)

The Nigeria Triple Helix Roundtable (NTHR) was launched on the 20th of Sept 2019 as a permanent platform for implementing the government-academia-industry collaboration towards fostering economic growth and national development in Nigeria. It is the first practical expression of the Triple-Helix model in the country, coming after the signing of an MoU between the National Universities Commission (NUC) (for academia) and the Nigerian Economic Summit Group (NESG) (for industry), and the interactive session and retreat which held thereafter.[15]

While the primary objective of the academia-industry collaboration is to revitalize the Nigeria higher education system, the broader long-term objective is to facilitate a tripartite partnership between the government, academia and industry such that the three actors can actively collaborate to develop solutions to critical problems and implement an agenda for economic growth. The NTHR seeks to enhance collaboration between these actors for the primary objective of stimulating growth by transitioning into an innovation-led and knowledge-driven economy.[15]

NASSBER

The National Assembly Business Environment Roundtable (NASSBER) was established in 2016 as a partnership between the National Assembly, NESG and Nigerian Bar Association – Section on Business Law with support from the ENABLE2 programme of the UK Department of International Development to intervene in improving the business environment as a pathway to economic growth and development using legislative instruments.[16]

References
  1. "The Nigerian Economic Summit Group | About Us". nesgroup.org. Retrieved 2019-07-19.
  2. Asu, Femi (19 July 2019). "NESG unveils new brand identity". The Punch Newspaper. Retrieved 19 July 2019.
  3. Jaiyeola, Laoye (10 March 2015). "A BRIEF OVERVIEW OF THE NIGERIAN ECONOMIC SUMMIT GROUP" (PDF). Nigerian Economic Summit Group. 1: Page 1.
  4. Ude, Nnanna (1 August 2018). "NIGERIAN ECONOMIC SUMMIT GROUP ANNOUNCES THE NES #24 STARTUPS PITCHING EVENT". VC4A. Retrieved 19 July 2019.
  5. "The Nigerian Economic Summit Group | About Us". www.nesgroup.org. Retrieved 2019-08-06.
  6. "The Nigerian Economic Summit Group | About Us". nesgroup.org. Retrieved 2019-08-06.
  7. "The Nigerian Economic Summit Group | About Us/Brand Identity". nesgroup.org. Retrieved 2019-07-19.
  8. "Nigeria Economic Summit Programme". Nigeria Economic Summit Programme. Retrieved 2019-07-19.
  9. Ajayi, Dickson 'Dare; Ikporukpo, Chris O. (2007-01-23). "An analysis of Nigeria's environmental Vision 2010". Journal of Environmental Policy and Planning. 7 (4): 341–365. doi:10.1080/15239080500441137.
  10. "Nigeria's Vision 20:2020: Review and Prospects With Two years To Go". Nigeria’s Vision 20:2020: Review and Prospects With Two years To Go. Retrieved 2019-07-19.
  11. admin (2016-10-10). "Udoma: Economic Summit will Revamp Nigerian Economy". THISDAYLIVE. Retrieved 2019-07-19.
  12. "The 26th Nigerian Economic Summit | NES 26 Innovation Workshop". nesgroup.org. Retrieved 2020-12-18.
  13. "The Nigerian Economic Summit Group | Policy Commissions". nesgroup.org. Retrieved 2019-07-19.
  14. "The Nigerian Economic Summit Group | Blog Post: NESG Delivers presentation on NGF-NESG Economic Roundtable (NNER) to Nigeria Governors Forum". www.nesgroup.org. Retrieved 2020-12-17.
  15. "NESG, NUC Partner To Host Maiden Forum to Revitalize Varsity Education in Nigeria". NESG, NUC Partner To Host Maiden Forum to Revitalize Varsity Education in Nigeria. Retrieved 2020-12-18.
  16. "National Assembly Business Environment Round Table". nassber.org. Retrieved 2020-12-17.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.